S&P : CORPORATE DEFAULTS +200% YoY....SUMMARY YR TO DATE:
This week saw 7 defaults (2nd highest after 8 in wk of Feb 2)
Total : 47 defaults YTD (almost 3 x number in 2008 same period)
- 31 in US (66%)
- 8 in Emerg mkts (17%)
- 5 in Australia, Canada, Japan, and New Zealand (11%)
- 3 in EU (6%)
So far this year, 43% (20 issuers) were due to missed interest payments, 36% (17 issuers) were bankruptcy related, 15% (7 issuers) were distressed exchange related & the remaining 6% (3 issuers) were due to other reasons.
This week saw 7 defaults (2nd highest after 8 in wk of Feb 2)
Total : 47 defaults YTD (almost 3 x number in 2008 same period)
- 31 in US (66%)
- 8 in Emerg mkts (17%)
- 5 in Australia, Canada, Japan, and New Zealand (11%)
- 3 in EU (6%)
So far this year, 43% (20 issuers) were due to missed interest payments, 36% (17 issuers) were bankruptcy related, 15% (7 issuers) were distressed exchange related & the remaining 6% (3 issuers) were due to other reasons.